Minister of Petroleum and Mineral Resources Tarek El Molla stated that what has been achieved in the Egyptian refining industry in recent years is unprecedented, pointing out that the future vision pursued by the petroleum sector Modernization program since its inception in 2016 to develop and implement new projects changed the shape and performance of refineries and increased their production capabilities, the ministry said in a statement.
This came during the general assemblies chaired by El Molla for the public sector oil companies, Assiut Oil Refining Company (ASORC), Suez Oil Processing Company (SOPC), and Nasr Petroleum Company (NPC) to approve the budget plans for the next fiscal year (FY) 2023/24.
El Molla said that a number of refining projects are currently underway, especially the new diesel production complex in Assiut, the expansion of refineries in Suez and Alexandria, and other projects related to the refining industry, in parallel with continuing to improve performance rates, achieve safe operation, and develop work systems in order to maintain the added value of these refineries and continue to secure the supply of petroleum products.
The Ministry attaches utmost importance to environmental aspects, as well as digital transformation projects and projects to improve energy efficiency through units established in various petroleum sector companies. This is in addition to the expansion of flare gas recovery projects with their economic returns and environmental compatibility, paying attention to continuous and advanced training and increasing the efficiency of the human element to ensure continuous improvement in performance, El Molla said.
The minister highlighted the importance that the ministry attaches to all petroleum projects, especially in Suez and Upper Egypt, where SOPC and NPC are considered essential facilities for providing petroleum products in the local market.
El Molla further pointed to the importance of the development that took place for these refineries in terms of shape and performance in accordance with international performance standards in the refining industry, as they are major entities in the petroleum geographical areas based on serving our people in Suez and Upper Egypt.